Economy
Traditionally, Jersey's economy has been centred around agriculture, fishing and knitwear. Today, it's finance that dominates, providing 50% of GDP and 60% of Government tax income.
The Finance Industry
The Island's low rate of income tax (20%) has attracted high net-worth individuals since Napoleonic times. However, the finance industry has only properly existed in Jersey since 1962, when a law that had capped interest rates at 5% was abolished.
In the years that followed, financial institutions were drawn to the Island by its stable government, proximity to both the UK and continental Europe and low taxes. Jersey is now an international financial centre, with 45 banks and over 33,000 registered companies. More than £187 billion deposited in the Island at any one time - 68% in foreign currency.
Please visit the links below for more information on financial matters.
Jersey Financial Services Commission
www.jerseyfsc.org
Jersey Finance
www.jerseyfinance.je
States of Jersey Statistics Unit
www.gov.je/government/jerseyworld/statisticsunit
Tourism
Tourism is also very important to Jersey, both in terms of the revenue generated for the economy and the infrastructure which is appreciated by our local residents as well as visitors.
Jersey's regular fast ferry services to France and the UK and the 30 plus airports with direct flights during the Summer months are directly attributable to a successful tourism industry which also provides a social structure which enhances the quality of life for our residents by providing quality restaurants , entertainment and family attractions.
In 2009, 699,532 people visited Jersey, spending approximately £223m. Of these 356,628 were staying leisure visitors with a large majority of some 70% coming from the UK. Jersey is attracting an increasing number of European visitors with over 50,000 staying leisure visitors coming from France and Germany.
Jersey Tourism produces statistics monthly and annually, for further detailed data, please visit www.jersey.com/business.
Agriculture
Among the major agricultural exports are a range of dairy products associated with the iconic Jersey cow, the world-famous Jersey Royal potatoes and a wide variety of market garden crops and flowers.